Avoid the common traps that make sales harder
Since 2009, we have been monitoring what makes some properties more difficult to sell than others. Lifestyle blocks are always in the results.
We have found some consistent factors influencing whether a lifestyle property will sell quickly - or perhaps not at all.
Telling data about lifestyle property sales
Our data identified a number of 'risk indicators' that help to predict which properties will most likely be difficult to sell, and which ones should sell for an optimum price, within a short time frame.
If a lifestyle property meets more than one of the 'risk indicators', this can make the viability of a sale, even when re-marketed with a competent agent second time around, a waste of investment in time and money.
If you are intending to list your lifestyle property with a lifestyle agency, doing your due diligence now will help prevent you from having to re-list a second time which can end up being disheartening and very expensive.
Getting it right first time around
Reasons why lifestyle properties become difficult to sell include inaccurate property appraisals or price expectations, poor presentation or poor marketing. There could be code of compliance issues or boundary issues with neighbours. The reasons are many and often technical.
As you get organised to interview lifestyle agencies, be aware there is information specific to lifestyle blocks that you should check before signing an agency agreement. You can get more information about lifestyle real estate agents from NZ's lifestyle real estate agent broker.
Whether you are selling an average value lifestyle block or a luxury lifestyle block, you should expect the best service available. Selling lifestyle properties is a specialist field of real estate work, as this expert advice explains.
Slower to sell
Some properties have shown themselves to be harder to sell:
- Rural or lifestyle properties on the market a second time
- Property presentation is poor
- Amateur photography has been used
- They have structural or layout issues
- Rural town properties
We found that properties with more than one of the above factors against them are most at risk of not selling at all (or at best, for a bottom price).
The most common marker of all is ‘second time on the market’ which can be avoided by getting it right the first time you list your lifestyle agency.